Universal Pictures and Red Granite have rescued the Farrelly brothers' sequel "Dumb and Dumber To" out of turnaround from Warner Bros. and New Line.

Red Granite will finance the $35 million comedy and handle foreign sales, while Universal will distribute in the U.S..

"Dumb and Dumber" stars Jim Carrey and Jeff Daniels will return to reprise their roles as dim-witted best friends Lloyd and Harry, respectively.

Sean Anders and John Morris wrote the original script, which has since been rewritten by directors Peter and Bobby Farrelly, who will produce with Red Granite's Joey McFarland. Universal exec Jon Mone will oversee the project for the studio.

Warner Bros. will retain a participation stake in the PG-13 sequel, which was packaged by CAA and WME.